I'm a big fan of capitalism - real capitalism - not the corporatist/statist crony construct that passes for and is assumed to be capitalism under present day memes.
In the last day, I found a great example of how capitalism works. It starts with a cup of coffee.
ATTENTION:
Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts
Wednesday, February 06, 2013
Tuesday, November 15, 2011
Occupy Pittsburgh - Yurting for Winter
The economic miscreants at Occupy Pittsburgh are trying to settle in for the long haul over winter, assuming they don't meet the same fate as the original occupiers in NYC. They apparently have realized that tents just won't cut it for the long haul. Winter is going to hurt if they can't have some heat to sleep with. To avoid the hurt, they're going to yurt.
Yes, yurt. What is a yurt, you ask? According to a website linked by Occupy Pittsburgh, a yurt is "a circular portable shelter used by Central Asian nomads for over 2000 years, recently adapted for Western use." Our local occupiers are asking for assistance building what they're calling "hexayurts". The occupiers want them because they are "wind proof, water proof, and safe for a heater installation." They are also looking for "creative floor ideas." Somebody evidently suggested that wooden pallets would be good, except that if they used pallets with spaces - i.e. most such items - "We may help the rats make a nest for winter." Glad they're worried about that. Plague and other rat-borne diseases can be a real bitch, particularly if you only have a tent and not a yurt to convalesce in. So then, what do our occupiers need to construct their yurts?
Before we get into materials, let's take a look at the occupiers' principles. The Occupy Pittsburgh General Assembly adopted the original Occupy Wall Street statement of purpose on October 12, 2011, no doubt with very fervent "up twinkles". Here's some of the things they stand against:
You get the drift. I excerpted the above because they speak to hypocrisy of the occupiers, for, what does it take to build a yurt?
Yes, yurt. What is a yurt, you ask? According to a website linked by Occupy Pittsburgh, a yurt is "a circular portable shelter used by Central Asian nomads for over 2000 years, recently adapted for Western use." Our local occupiers are asking for assistance building what they're calling "hexayurts". The occupiers want them because they are "wind proof, water proof, and safe for a heater installation." They are also looking for "creative floor ideas." Somebody evidently suggested that wooden pallets would be good, except that if they used pallets with spaces - i.e. most such items - "We may help the rats make a nest for winter." Glad they're worried about that. Plague and other rat-borne diseases can be a real bitch, particularly if you only have a tent and not a yurt to convalesce in. So then, what do our occupiers need to construct their yurts?
Before we get into materials, let's take a look at the occupiers' principles. The Occupy Pittsburgh General Assembly adopted the original Occupy Wall Street statement of purpose on October 12, 2011, no doubt with very fervent "up twinkles". Here's some of the things they stand against:
- They have taken bailouts from taxpayers with impunity...
- They have poisoned the food supply through negligence...
- They have spent millions of dollars...[to] look for ways to get them out of contracts in regards to health insurance...
- They continue to block alternate forms of energy to keep us dependent on oil...
- They continue to block generic forms of medicine...
- They continue to create weapons of mass destruction...
You get the drift. I excerpted the above because they speak to hypocrisy of the occupiers, for, what does it take to build a yurt?
Tuesday, October 25, 2011
Rick Perry: Cut, Balance & Grow
GOP Presidential Candidate Governor Rick Perry of Texas released his tax and budget plan today, entitled "Cut, Balance & Grow". I encourage all my readers to download the PDF from Gov. Perry's website and read the full plan. I'll be citing page numbers from the document below.
The quick hit - what would this do for or to me and my family?
The first evaluation of Gov. Perry's plan I did was how it would have altered my 2010 taxes had the plan already been in force and we opted to file under his 20% flat tax with the simplified tax form. In 2010, we paid taxes with a net effective rate of 14% after all deductions, exemptions, and credits. Under the Perry plan, our taxable income would have been reduced by 41.3% and our federal tax due would have dropped by 16.7%, even with the net higher tax rate of 20% on taxable income. In real dollars and cents, this would have put just over $2,000 back in my family's wallet. On that, I have no complaints whatsoever and just from my own personal financial perspective, the plan looks good.
Nevertheless, my own personal situation does not make this a winner for the Nation. For now, I'm going to mainly analyze the tax provisions. The larger issues such as balancing the budget and entitlement reforms deserve more attention than I can give now. So, let's look at the nuts and bolts.
Wednesday, May 13, 2009
The Lawless President
This column from today's The Wall Street Journal, "Chrysler and the Rule of Law" by Todd J. Zywicki, is an alarming summary of the complete disregard for our Constitution and the laws enacted under it by our President, New Soviet Man Barack Obama.
Professor Zywicki sets the stage:
Professor Zywicki sets the stage:
Fleecing lenders to pay off politically powerful interests, or governmental
threats to reputation and business from a failure to toe a political line? We
might expect this behavior from a Hugo Chavez. But it would never happen here,
right?
Until Chrysler.
A recitation of the facts surrounding President Obama's strong-arm of the Chrysler bankruptcy and the relevant Constitutional and legal provisions follows. He succintly points out that Chrysler's secured creditors are being shafted in favor of the United Auto Workers - not conicidentally one of Mr. Obama's favored constituency groups. He continues:
By stepping over the bright line beween the rule of law and the arbitrary
behavior of men, President Obama may have created a thousand new failing
businesses. That is, businesses thay might have received financing before but
that now will not, since lenders face the potential of future government
confiscation. In other words, Mr. Obama may have helped save the jobs of
thousands of union workers whose dues, in part, engineered his election. But
what about the untold number of job losses in the future caused by trampling the
sanctity of contracts today?The value of the rule of law is not merely a matter of economic efficiency.
It also provides a bulwark against arbitrary governmental action taken at the
behest of politically influential interests at the expense of the politically
unpopular...And what if the next time it is a politically unpopular business...that's on
the brink? Might the government force it to surrender a patent to get the White
House's agreement to get financing for the bankruptcy plan?
A dire, dangerous question indeed. In fact, it echoes of Ayn Rand's "Directive 10-289".
At this time, I'd like to call Mr. Obama's attention to the text of Article II, Section 3 of the United States Constitution:
"He shall take Care that the Laws be faithfully executed."
I made the assertion around Election Day that if - and as it has turned out to be - when Barack Obama took the Oath of Office, the entire statement would be a lie.
Sadly, tragically, I was right.
Pray for our Nation.
(Hat tip: Drudge)
Friday, May 08, 2009
Economic Growth Stupidity
According to this article (Breitbart, via Drudge), the European Union economic brain trust is considering limiting the work week, i.e. reducing the hours that existing employees work so unemployed folks can be hired to fill the gaps.
This is the absolute height of lunacy and denial of basic economic prinicples. Here's what will happen:
1) They cut back on the hours productive people work, thereby reducing the wages they earn and the money they have to spend.
2) The productive people therefore spend less and reduce their consumption.
3) The businesses where the productive were spending now have reduced revenue and will have to either raise prices or reduce costs. What's the easiest way for them to reduce costs? Reduce manpower.
4) The value of the money that people have to spend is now even less still because prices are higher.
5) All in all, this will lead to more unemployment, not less.
What should they do?
1) Reduce taxes.
2) Remove regulation.
3) Let the free market stretch its legs and grow.
The economic masters of the European Union need to read up on the "broken window fallacy".
In the mean time, "John Galt, please call your office."
This is the absolute height of lunacy and denial of basic economic prinicples. Here's what will happen:
1) They cut back on the hours productive people work, thereby reducing the wages they earn and the money they have to spend.
2) The productive people therefore spend less and reduce their consumption.
3) The businesses where the productive were spending now have reduced revenue and will have to either raise prices or reduce costs. What's the easiest way for them to reduce costs? Reduce manpower.
4) The value of the money that people have to spend is now even less still because prices are higher.
5) All in all, this will lead to more unemployment, not less.
What should they do?
1) Reduce taxes.
2) Remove regulation.
3) Let the free market stretch its legs and grow.
The economic masters of the European Union need to read up on the "broken window fallacy".
In the mean time, "John Galt, please call your office."
Wednesday, May 06, 2009
Look who's on our side!
Children of the Cold War will remember Pravda, the Soviet Union's mouthpiece. From those days, "Pravda" ironically is the Russian word for "truth". Pravda ceased publication in 1991.
Well, the Internet remnant of what was Pravda has better insights into the destruction of American economy and society by the Obama Administration and our Congress then our own media: "American capitalism gone with a wimper"
Ironic again, that now we get the truth from Pravda and not our own media isn't it?
Hat tip: Quinn & Rose
Well, the Internet remnant of what was Pravda has better insights into the destruction of American economy and society by the Obama Administration and our Congress then our own media: "American capitalism gone with a wimper"
Ironic again, that now we get the truth from Pravda and not our own media isn't it?
Hat tip: Quinn & Rose
Tuesday, April 28, 2009
Big Brother wants to know how much you drive...and tax you for it!
This proposed new tax would require you to have a GPS device embedded in your vehicle so the government can tax you on the miles you drive.
Be very clear on this - if enacted, the government will be not only tracking how much you drive, but where and on what roads, just so they can tax you accordingly. Yeah, right.
Also be very clear: the thought that this would "replace" current gasoline taxes is laughable.
Be very afraid.
Hat tip: Drudge
Thursday, March 26, 2009
"Card Check" is NOT America!
The so called "Employee Free Choice Act" is nothing short of union thuggery. It must be defeated. From Fox News:
Wednesday, March 04, 2009
Punish the largesse of executives!
Everybody knows that the economy is in trouble. Corporate executives left and right are being called on the carpet for their lavish lifestyles, private jets, and events held at destinations such as Las Vegas, Malibu, and elsewhere where they spend thousands, tens or hundreds of thousands, living it up. All, according to the media, on the backs of working folks and government bailout money.
Right now, there is a group of executives having a conference at the lavish Fontainbleau Resort in Miami Beach. They haven't been summoned before Congress to defend themselves, so let's expose what they're up to!
First off, let's look at room rates. If you checked in tomorrow and stayed until Sunday, a mere "Superior Room" (the lowest) will set you back $399 a night. If you're a mid-level executive and want to stick it to the working man, how about an "Oceanview Balcony Room" for $559-$629 a night. If you're really at the top of the economic food chain and don't give a crap - and never have - about anybody who is employed by you, try on the "Versailles One Bedroom Oceanview Suite" for $1,099 a night. Still not good enough? Well, there are suites available at a $1,429 rate too.
Now, let's eat. At the "Gotham Steak" restaurant, a 10-ounce Black Angus Filet Mignon is $48 and the 20-ounce Ribeye is $52. Everything is a la carte, so tack on $15 for a Caesar salad, $10 for a baked potato, and $12 for creamed spinach. If you don't want steak, how about Italian food? At "Scarpetta", you can get a lovely "Puree of Chestnut Soup" (with truffles) for $14, to which we'll add some tomato and basil spaghetti for $25 and top it off with the Milk Fed Veal Chop for $42. All of this, of course, is before what I'm sure will be a substantial bar bill.
After this meal, we're going to need to recuperate so let's go to the spa. Services there range from mid-$100s to over $300 per - figure we'll drop an easy grand there.
Now, we're at the pool and we've gotten a cabana for us and our entourage - and the fat cat big-wigs we're entertaining. We're going all out here, so that's another grand.
I could go on, but I think you get the point.
Now, who are the actual executives that are enjoying Fontainebleau luxury this week?
Well, they're the leaders of the AFL-CIO who are there spending the dues money of hard working union members.
Still waiting for the Democratic political outcry at this extravagance.
Hat tip: Mark Levin
Right now, there is a group of executives having a conference at the lavish Fontainbleau Resort in Miami Beach. They haven't been summoned before Congress to defend themselves, so let's expose what they're up to!
First off, let's look at room rates. If you checked in tomorrow and stayed until Sunday, a mere "Superior Room" (the lowest) will set you back $399 a night. If you're a mid-level executive and want to stick it to the working man, how about an "Oceanview Balcony Room" for $559-$629 a night. If you're really at the top of the economic food chain and don't give a crap - and never have - about anybody who is employed by you, try on the "Versailles One Bedroom Oceanview Suite" for $1,099 a night. Still not good enough? Well, there are suites available at a $1,429 rate too.
Now, let's eat. At the "Gotham Steak" restaurant, a 10-ounce Black Angus Filet Mignon is $48 and the 20-ounce Ribeye is $52. Everything is a la carte, so tack on $15 for a Caesar salad, $10 for a baked potato, and $12 for creamed spinach. If you don't want steak, how about Italian food? At "Scarpetta", you can get a lovely "Puree of Chestnut Soup" (with truffles) for $14, to which we'll add some tomato and basil spaghetti for $25 and top it off with the Milk Fed Veal Chop for $42. All of this, of course, is before what I'm sure will be a substantial bar bill.
After this meal, we're going to need to recuperate so let's go to the spa. Services there range from mid-$100s to over $300 per - figure we'll drop an easy grand there.
Now, we're at the pool and we've gotten a cabana for us and our entourage - and the fat cat big-wigs we're entertaining. We're going all out here, so that's another grand.
I could go on, but I think you get the point.
Now, who are the actual executives that are enjoying Fontainebleau luxury this week?
Well, they're the leaders of the AFL-CIO who are there spending the dues money of hard working union members.
Still waiting for the Democratic political outcry at this extravagance.
Hat tip: Mark Levin
Monday, November 03, 2008
Attention UMWA Members: Barack Obama is NOT your ally
Forget the Mine Workers, the New Soviet Man is not a friend of the United States.
From the great folks at HotAir: a rundown of how Barack Obama wants to bankrupt (Barack Obama's own words!) the coal industry and energy industries that utilize coal. (Earlier article from HotAir also)
Our economy can not expand and flourish - much less survive - without cheap, accessible sources of energy. We need all energy sources to be developed: coal, nuclear, natural gas, geothermal, solar, wind, etc. - all of them.
A direct quote from Barack Obama: Under my plan of a cap and trade system, electricity rates would necessarily skyrocket.
Look at your electric bill. Now, imagine it with charges that are double, triple, or quadruple. Are you looking forward to that? What will you have to give up if your electric bill is that large? Think about it long and hard, because that is the America that Barack Obama wants. He wants an energy-starved America that can not meet the basic needs of its own citizens.
Should the American people be hoodwinked and elect this man tomorrow, the end of the United States of America's prominence will assuredly follow.
I am convinced that Barack Obama is bent on the destruction of the United States, the ruination of our economy, the subversion of our Constitution, and is anathema to every value that this great Nation has stood for over the last 232 years.
From the great folks at HotAir: a rundown of how Barack Obama wants to bankrupt (Barack Obama's own words!) the coal industry and energy industries that utilize coal. (Earlier article from HotAir also)
Our economy can not expand and flourish - much less survive - without cheap, accessible sources of energy. We need all energy sources to be developed: coal, nuclear, natural gas, geothermal, solar, wind, etc. - all of them.
A direct quote from Barack Obama: Under my plan of a cap and trade system, electricity rates would necessarily skyrocket.
Look at your electric bill. Now, imagine it with charges that are double, triple, or quadruple. Are you looking forward to that? What will you have to give up if your electric bill is that large? Think about it long and hard, because that is the America that Barack Obama wants. He wants an energy-starved America that can not meet the basic needs of its own citizens.
Should the American people be hoodwinked and elect this man tomorrow, the end of the United States of America's prominence will assuredly follow.
I am convinced that Barack Obama is bent on the destruction of the United States, the ruination of our economy, the subversion of our Constitution, and is anathema to every value that this great Nation has stood for over the last 232 years.
Saturday, October 25, 2008
Pittsburgh: We want NO flights!
Just saw this article from the Pittsburgh Post-Gazette that talks about the increased fees - taxes, that is - that will be imposed on airlines operating out of Pittsburgh International Airport beginning in January.
Southwest Airlines, one of my current favorites, is particularly incensed - as they should be.
Increase in landing fees? 34.8 percent.
Increase in terminal space? 35.9 percent.
Increase in ramp space? 191 percent!
Yes, Allegheny County is sitting on a white elephant - a top of the line hub airport with no hub airline. Yes, there are significant issues surrounding servicing the airport's debt.
Every time I'm at the airport, it is very depressing. The place is an absolute ghost town, even at peak travel times. Clearly though, travel originiating here is strong - the extended parking lot is usually mostly full, anyway.
Here's a suggestion for the powers that be: cut the fees for landing, terminal space, and ramp space, you dolts! Obviously RAISING fees hasn't exactly ATTRACTED airlines here. You want a new airline to take Pittsburgh seriously as a hub location? Make our airport the least expensive for airlines to operate from!
If you lower the fees, more airlines will operate and maybe we'd get a hub back, whether for passengers or cargo. If there are more operations, you'll get more fees. DUH!
Southwest Airlines, one of my current favorites, is particularly incensed - as they should be.
Increase in landing fees? 34.8 percent.
Increase in terminal space? 35.9 percent.
Increase in ramp space? 191 percent!
Yes, Allegheny County is sitting on a white elephant - a top of the line hub airport with no hub airline. Yes, there are significant issues surrounding servicing the airport's debt.
Every time I'm at the airport, it is very depressing. The place is an absolute ghost town, even at peak travel times. Clearly though, travel originiating here is strong - the extended parking lot is usually mostly full, anyway.
Here's a suggestion for the powers that be: cut the fees for landing, terminal space, and ramp space, you dolts! Obviously RAISING fees hasn't exactly ATTRACTED airlines here. You want a new airline to take Pittsburgh seriously as a hub location? Make our airport the least expensive for airlines to operate from!
If you lower the fees, more airlines will operate and maybe we'd get a hub back, whether for passengers or cargo. If there are more operations, you'll get more fees. DUH!
Friday, October 03, 2008
Thank You, Congressman Jason Altmire
As you've probably heard, the massive socialization of the US economy cloaked as a financial rescue has passed both houses of Congress and will be signed into law by President Bush.
171 American Patriots of both parties stood fast and voted NO on this legislative travesty.
One of them was my Congressman, Mr. Jason Altmire (Democrat) of the Pennsylvania 4th District.
I contacted Mr. Altmire's office several times during these past days to first encourage him to vote against any bailout, then to thank him for his original vote on Monday against the bailout, and then to continue to oppose the measure. I'm thankful that many others in our district did the same, and that Mr. Altmire listened to his constituents.
I do not support Mr. Altmire's reelection, but on this day, I am proud he is representing me.
171 American Patriots of both parties stood fast and voted NO on this legislative travesty.
One of them was my Congressman, Mr. Jason Altmire (Democrat) of the Pennsylvania 4th District.
I contacted Mr. Altmire's office several times during these past days to first encourage him to vote against any bailout, then to thank him for his original vote on Monday against the bailout, and then to continue to oppose the measure. I'm thankful that many others in our district did the same, and that Mr. Altmire listened to his constituents.
I do not support Mr. Altmire's reelection, but on this day, I am proud he is representing me.
Wednesday, October 01, 2008
Tuesday, September 30, 2008
Pearls of Wisdom from Mark Levin
The great Mark Levin has weighed in on the bailout being voted down at NRO's "The Corner". He hits every nail right on the head.
The Failure of Liberalism on Display
Watch this, pay attention to how the Fannie Mae/Freddie Mac collapse has led to the current economic crisis, and never forget who asked for more oversight and regulation, and who defended the criminals who have trashed our country.
Remember also, it isn't "Democrats" and "Republicans" - it's Liberals and Americans.
Remember when you enter that voting booth on November 4th also...
Remember also, it isn't "Democrats" and "Republicans" - it's Liberals and Americans.
Remember when you enter that voting booth on November 4th also...
Monday, September 29, 2008
Stay calm, folks
October 19, 1987: DJIA closed at 1739, down 508 - 22.6 percent
Today's losses were just under 7 percent (6.98%). Don't panic. Let's let the free market fix itself!
Today's losses were just under 7 percent (6.98%). Don't panic. Let's let the free market fix itself!
Kudos to Congress
Today, 228 of the 435 members of the U.S. House of Representatives honored their oaths to the Constitution of the United States and voted against the evil specter of socialism. To both the Republicans and Democrats who stood today for keeping government out of free enterprise and our financial markets, THANK YOU.
Two of the local Pittsburgh-area reps, Jason Altmire (D) and Tim Murphy (R), both voted against. I am glad that Mr. Altmire listened to his constituents; I was one of the many who contacted his office urging a "NO" vote.
It still won't make me vote for him though...
Two of the local Pittsburgh-area reps, Jason Altmire (D) and Tim Murphy (R), both voted against. I am glad that Mr. Altmire listened to his constituents; I was one of the many who contacted his office urging a "NO" vote.
It still won't make me vote for him though...
Wednesday, September 24, 2008
McCain to return to Senate: Brilliant or Foolish?
My initial take on John McCain going back to Washington to help address the finance and banking crisis is positive. He accurately predicted what the consequences would be without regulatory changes three years ago, and wasn't listened to then.
The New Soviet Man, naturally, makes it all about him and insists that the debate Friday still go on.
Dear Senator Obama: get your butt back to your desk in Washington and do the freaking job you were elected to do! Or perhaps is it that you don't want to be on the record of have to make a decision?
On the debate, I think the McCain camp is missing a huge opportunity. They should let the debate Friday go ahead...and send Sarah! First, we know that she'll shred Obama if for no other reason that she can speak coherent sentences on the fly. Second, that'll put to end all of the BS on her not being ready; what better practice than to have to stand in for John McCain - for real. Third, Obama will have to refuse to debate her - who'll be running scared then?
The New Soviet Man, naturally, makes it all about him and insists that the debate Friday still go on.
Dear Senator Obama: get your butt back to your desk in Washington and do the freaking job you were elected to do! Or perhaps is it that you don't want to be on the record of have to make a decision?
On the debate, I think the McCain camp is missing a huge opportunity. They should let the debate Friday go ahead...and send Sarah! First, we know that she'll shred Obama if for no other reason that she can speak coherent sentences on the fly. Second, that'll put to end all of the BS on her not being ready; what better practice than to have to stand in for John McCain - for real. Third, Obama will have to refuse to debate her - who'll be running scared then?
Wednesday, September 17, 2008
Economics of the Day
The bailout of AIG by the Fed is an affront to free market economics. Small consolation that it was done by a "loan" rather than an out and out giveaway - but how exactly is a company going under going to turn around fast enough to repay $85 billion in two years?
Even if AIG sold what is by all accounts its most profitable division, ILFC, for what is usually a reasonable amount of ten times earnings, that gets them $6 billion. Where will the other $79 billion come from folks? This of course, doesn't take interest into account...
Now we have the Democratic-controlled House passing a supposed drilling act that accomplishes nothing, except putting new taxes on the energy industry and refusing to open up the most bountiful portions of our available resources to exploration and development. Yet more symbolism over substance.
Here's to hoping that the Democrats' "drilling" legislation is never signed into law. With no action, most if not all off-shore drilling restrictions will expire at the end of the month - which is what this Nation needs.
Even if AIG sold what is by all accounts its most profitable division, ILFC, for what is usually a reasonable amount of ten times earnings, that gets them $6 billion. Where will the other $79 billion come from folks? This of course, doesn't take interest into account...
Now we have the Democratic-controlled House passing a supposed drilling act that accomplishes nothing, except putting new taxes on the energy industry and refusing to open up the most bountiful portions of our available resources to exploration and development. Yet more symbolism over substance.
Here's to hoping that the Democrats' "drilling" legislation is never signed into law. With no action, most if not all off-shore drilling restrictions will expire at the end of the month - which is what this Nation needs.
Friday, March 28, 2008
A story of someone who should have known better
CNN is running an article called "From $70K to food bank, one family's struggle". Yes, it tugs at the hearstrings. Yes, I have sympathy for Patricia Gurrero and her two children's plight. But, it is also likely that the direness of their circumstances could have been mitigated, if not eliminated. How?
"She has had to take extreme measures to pay for her interest-only mortgage of $2,500 a month."
She is obviously paying for a house she couldn't afford in the first place. Yes, I realize they live in Southern California. Yes, I also realize that it's likely that her house has lost value given the depressed real estate market in that area. Still, she really should have known that getting into an interest-only mortgage was a really bad idea since:
"A former loan processor, Gurrero knows all about that [the subprime mortgage crisis]"
So, one who was involved in the whole process of giving large loans out to folks who probably shouldn't have gotten them put themselves in the same boat, and now it's sinking. I'm sure there's some out there who would take some schadenfreude away from this, but I don't.
It does mention in the article that Ms. Gurrero is "estranged" from her husband, but not why. Certainly that is a contributing factor to her situation since it is unlikely (read "estranged", not "divorced") that her husband is providing anything in the way of child support. Of course, perhaps her husband is providing some support; if he wasn't, I'd expect the story to also play up the "deadbeat dad" angle. In either case, one lesson to take away is that stable families are less susceptible to economic upheaval. I am not saying that she should immediately go back to her husband - for all I know he could have been abusive to either her or the children - but I am making the general comment on society that marriages are too often looked upon as simple personal arrangements that can be rearranged at will.
Of course, CNN's real intent by this article is to portray the middle class as under seige by the rich who control banks and are now squeezing the little men because they can't pay the bills they said they could. Unfortunately for CNN, they accidentally tell the truth in their article that - this person at least - probably should have known better.
"She has had to take extreme measures to pay for her interest-only mortgage of $2,500 a month."
She is obviously paying for a house she couldn't afford in the first place. Yes, I realize they live in Southern California. Yes, I also realize that it's likely that her house has lost value given the depressed real estate market in that area. Still, she really should have known that getting into an interest-only mortgage was a really bad idea since:
"A former loan processor, Gurrero knows all about that [the subprime mortgage crisis]"
So, one who was involved in the whole process of giving large loans out to folks who probably shouldn't have gotten them put themselves in the same boat, and now it's sinking. I'm sure there's some out there who would take some schadenfreude away from this, but I don't.
It does mention in the article that Ms. Gurrero is "estranged" from her husband, but not why. Certainly that is a contributing factor to her situation since it is unlikely (read "estranged", not "divorced") that her husband is providing anything in the way of child support. Of course, perhaps her husband is providing some support; if he wasn't, I'd expect the story to also play up the "deadbeat dad" angle. In either case, one lesson to take away is that stable families are less susceptible to economic upheaval. I am not saying that she should immediately go back to her husband - for all I know he could have been abusive to either her or the children - but I am making the general comment on society that marriages are too often looked upon as simple personal arrangements that can be rearranged at will.
Of course, CNN's real intent by this article is to portray the middle class as under seige by the rich who control banks and are now squeezing the little men because they can't pay the bills they said they could. Unfortunately for CNN, they accidentally tell the truth in their article that - this person at least - probably should have known better.
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